ETH Price Outlook

Ethereum's price is currently facing significant resistance, struggling to break above key levels. Despite showing signs of stabilization over the past few weeks, the daily structure continues to trade below major moving averages. On the daily chart, Ethereum is trading around $1,860 after recovering from a June sell-off that pushed the price into a major demand zone around $1,500.

The asset's failure to break above the 100-day moving average around $2,000 has left it trapped beneath several technical barriers. The first resistance level is around the $2,000 supply zone, where key moving averages converge. A stronger resistance zone is located around $2,400, which capped the previous recovery attempt in April. To suggest that the broader downtrend is losing momentum, Ethereum would need to reclaim these levels.

In the short term, the 4-hour chart presents a more constructive picture, with Ethereum printing higher highs and higher lows while respecting a rising trendline. However, a breakdown below this trendline could weaken the short-term structure and increase the probability of a deeper retracement. On-chain data provides a constructive backdrop, with exchange balances continuing to decline.

The next objective for buyers is another test of the recent highs around $1,900 to $1,950. A decisive breakout above this region and the channel could open the path toward the daily supply zone at $2,000. Overall, Ethereum's price outlook remains uncertain, with the asset facing significant resistance levels and a broader downtrend that has yet to shift decisively in favor of the bulls.